In The Spotlight: Improve Your Cash Flow

Did you know that more businesses fail due to mismanagement of cash flow than due to lack of profit? The root cause is simple—you assume the cost of goods or services in advance of receiving payments from customers. Dramatic improvements are achievable with a little effort. Here are 8 of our top suggestions - watch next month's eNews for more!

 

1. Invoice More Frequently
If you sell products, mail—or better yet, e-mail the invoice the same day the product ships. And if you are a service-based business, bill your clients twice a month or once a week instead of monthly.
2. Request Deposits Or Multiple Stage Payments
For large orders or engagements, it is reasonable to request an up-front deposit of up to 50 percent. Cover your costs before fulfilling the order.
3. Offer Payment Discounts For Timely Payments
Encourage customers to pay early or on time by offering a discount for prompt payment. Even a small discount can motivate faster payment.
4. Check Credit References
Create procedures to check credit before giving terms and make sure they are followed. Get e-mail addresses with credit references.
5. Generate Accounts Receivable And Aging Reports
Regularly graph your total accounts receivable and past due amounts over time so you understand your cash flow trends. This can help you identify potential cash shortfalls and allows you to take early action to mitigate them.
6. Add Late Payment Charges
Like early payment discounts, late payment charges can motivate your customers to pay promptly. Send account statements at least once a month. Include the late charge information prominently on your invoices and statements.
7. Generate Mid-Month Payment Reminders
Generate e-mail reminders based on criteria within your Sage BusinessWorks Accounting database. Use the Custom Office module to help automate the task.

Your Sage BusinessWorks software contains the tools and features to help you implement many of these improvements. Call Blytheco for more information at 800.425.9843, extension 192, visit our website at www.blytheco.com, or or e-mail us at solutions@blytheco.com.

 
Sage BusinessWorks Winter, 2008 Promotions

These promotions are valid through March 31, 2008.

  • Save 10% off the regular price of Crystal Reports or F9 (valid for existing customers only).
  • Save 20% off the regular price of Starship (valid for existing customers only).
  • Customers who upgrade to Sage BusinessWorks Version 8.0 before March 31, 2008 will receive a discount off the module price of the upgrade. This discount does not apply to the Client Care portion of the order.
    • Customers who purchase a Subscription plan will receive $100.00 off the module price.
    • Customers who purchase a Silver plan will receive $150.00 off the module price.
    • Customers who purchase the Gold plan will receive $200.00 off the module price.

Give Blytheco a call at 800.425.9843 for more information or pricing for Sage BusinessWorks, or e-mail us at solutions@blytheco.com.

Upcoming Sage BusinessWorks Authorized Training Classes

Sage BW General Ledger - Tues., 4/8/2008
ATC Class-Here's the ultimate primer, enabling you to generate up-to-the-minute financial reports and statements, use departmental accounting... »See all dates and locations

Sage BW Introduction and System Manager - Tues., 4/8/2008
ATC Class-Here's the inside track to maximizing your productivity and saving valuable time and frustrating hassles, by learning how to successfully... »See all dates and locations

Sage BW Core Applications Bundle - Tues., 4/8/2008
ATC Class-This must-have course contains all five accounting classes all rolled into one. With hands-on lab exercises to develop and refine... »See all dates and locations

Sage BW Accounts Payable and Cash Management - Wed., 4/9/2008
ATC Class-You'll be amazed at the speed of your learning curve with valuable tools that show you how to rapidly access vendor information, save... »See all dates and locations

Sage BW Accounts Receivable - Thur., 4/10/2008
ATC Class-You will learn all of the important fundamentals of this application, including setup options, entering customer data, invoice entry... »See all dates and locations

Sage BW Payroll - Fri., 4/11/2008
ATC Class-Here's the definitive course for dramatically increasing your understanding of how to set up your payroll system and identify all... »See all dates and locations

Sage BW Inventory Control - Mon., 4/21/2008
ATC Class-Tighten your inventory supervision with invaluable skills that enable you to track parts more efficiently, generate powerful reports... »See all dates and locations

Sage BW Order Entry - Tues., 4/22/2008
ATC Class-This indispensable course provides a broad understanding of the many features available in the Order Entry Module, including accessing... »See all dates and locations

CLICK HERE for more Sage BusinessWorks Authorized Training Classes!

 

Contact Blytheco at solutions@blytheco.com or 800-4BLYTHE for more information or with any questions.